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In the latest trading session, Eaton (ETN - Free Report) closed at $328.35, marking a +0.36% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.23%. Elsewhere, the Dow saw a downswing of 0.17%, while the tech-heavy Nasdaq appreciated by 0.34%.
The power management company's shares have seen a decrease of 3.19% over the last month, surpassing the Industrial Products sector's loss of 3.86% and falling behind the S&P 500's gain of 3.96%.
The upcoming earnings release of Eaton will be of great interest to investors. The company's upcoming EPS is projected at $2.61, signifying a 18.1% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.35 billion, up 8.2% from the year-ago period.
ETN's full-year Zacks Consensus Estimates are calling for earnings of $10.56 per share and revenue of $25.15 billion. These results would represent year-over-year changes of +15.79% and +8.44%, respectively.
Any recent changes to analyst estimates for Eaton should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.42% higher within the past month. Eaton is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Eaton's current valuation metrics, including its Forward P/E ratio of 30.99. For comparison, its industry has an average Forward P/E of 22.57, which means Eaton is trading at a premium to the group.
It is also worth noting that ETN currently has a PEG ratio of 2.74. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Manufacturing - Electronics industry had an average PEG ratio of 1.91.
The Manufacturing - Electronics industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 16, positioning it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why Eaton (ETN) Outpaced the Stock Market Today
In the latest trading session, Eaton (ETN - Free Report) closed at $328.35, marking a +0.36% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.23%. Elsewhere, the Dow saw a downswing of 0.17%, while the tech-heavy Nasdaq appreciated by 0.34%.
The power management company's shares have seen a decrease of 3.19% over the last month, surpassing the Industrial Products sector's loss of 3.86% and falling behind the S&P 500's gain of 3.96%.
The upcoming earnings release of Eaton will be of great interest to investors. The company's upcoming EPS is projected at $2.61, signifying a 18.1% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.35 billion, up 8.2% from the year-ago period.
ETN's full-year Zacks Consensus Estimates are calling for earnings of $10.56 per share and revenue of $25.15 billion. These results would represent year-over-year changes of +15.79% and +8.44%, respectively.
Any recent changes to analyst estimates for Eaton should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.42% higher within the past month. Eaton is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Eaton's current valuation metrics, including its Forward P/E ratio of 30.99. For comparison, its industry has an average Forward P/E of 22.57, which means Eaton is trading at a premium to the group.
It is also worth noting that ETN currently has a PEG ratio of 2.74. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Manufacturing - Electronics industry had an average PEG ratio of 1.91.
The Manufacturing - Electronics industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 16, positioning it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.